Number of millionaires rising, especially in Asia-Pacific region

23.06.2011 [12:02]
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Baku, June 23 (AZERTAC). Global millionaires` ranks rose by 8.3 percent last year as the Asia-Pacific region overtook Europe for the first time, according to a report by Capgemini and Merrill Lynch Global Wealth Management. By region, North America retained the title of home to the most millionaires.

"Regionally, Asia-Pacific was the real star of the growth story," John Thiel, head of U.S. wealth management for Merrill Lynch Global Wealth Management, said at a press briefing in New York Wednesday, referring to the results of the 15th annual World Wealth Report published Wednesday. Stock market returns and increases in the value of real estate in the region were major contributors, he said.

Africa showed the biggest increase in millionaires by region with growth of 11.1 percent, while India entered the top 12 country rankings for the first time, with 153,000. The number of millionaires in China grew by 12 percent to 534,500. China ranked fourth in the number of millionaires, trailing the United States, Japan and Germany.

Number of millionaires rising, especially in Asia-Pacific region

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